Government enterprises are vulnerable to political intervention and influence of various interest groups. The theoretical literature emphasizes the role multiple and conflicting goals that distorts incentives and accountability. We offer empirical evidence of the importance of the political...

This article shows that, for any transferable utility game in coalitional form with a nonempty coalition structure core, the number of steps required to switch from a payoff configuration out of the coalition structure core to a payoff configuration in the coalition structure core is less than...

This article shows that, for any transferable utility game in coalitional form with a nonempty coalition structure core, the number of steps required to switch from a payoff configuration out of the coalition structure core to a payoff configuration in the coalition structure core is less than...

There are situations where the data or the theory suggest or require, respectively, that one estimate the boundary lines that separate regions of observations from regions of no observations. Of particular interest are ceiling or floor lines. For example, many theories use terms such as veto...

Few studies on political budget cycles have directly tested the public budget against changes in the composition of public spending. Meanwhile, previous studies implicitly assume that the executive has full discretionary power over fiscal policy, neglecting the role of the legislature in...

In this paper we consider information collecting (IC) situations where an action taker in an uncertain situation can improve his action choices by gathering information from some players who are more informed about the situation. Then the problem of sharing the gains when cooperating with...

This paper reports the performance of the banking sectors of four crisis-hit East Asian economies, under IMF-restructuring programs, over the pre- and post-restructuring periods. Results from the widely used structural analysis model indicate that the four banking sectors have become moderately...

This study investigates the macroeconomic implications of financial intermediation of international capital inflows in a small open economy (SOE). The interplay between financial intermediation and macroeconomic fluctuations is studied under alternative representations of the relationship...

The main aim of this paper is to investigate on banking crises which stemming from asymmetric knowledge problems in financial system. Asymmetric information and its related problems have a great influence on the functioning of financial markets. Finance literature underlines that banking firms...